The Dubai Land Department recorded the sale, marking it as the highest-priced hotel apartment transaction in the local real estate market’s history. The hotel apartment is located in the One Za’abeel project, developed by Enrichment Dubai, a fully government-owned real estate development company under the Dubai Investment Corporation.
The hotel apartment at One Za’abeel spans 41,737 square feet, resulting in a price per square foot of 4,791 dirhams.
One Za’abeel is expected to open soon and will feature, in addition to residential apartments and office and commercial units, a resort managed by the global brand “One&Only.” It will consist of 94 units of One&Only private residences, 229 luxurious hotel rooms and suites, as well as the Siro hotel, which will have 132 guest rooms, and a dedicated fitness club.
It’s worth noting that the second most expensive hotel apartment in Dubai was officially sold last year for 105 million dirhams and is located in the Jumeirah Marsa Al Arab project. Following that, in third place, is a hotel apartment in the “Club Villas” complex on Palm Jumeirah, which was sold for 77 million dirhams in 2021.
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